Author Archives: Brian Hanks

What You Need to Know About Your Future Patients | Evaluating a Dental Practice to Buy

When buying a dental practice, the two most important things to know about your patients (before you own the practice, anyway) are AGE and GEOGRAPHY. Knowing just these two pieces of information can give you a massive heads-up about what kind of practice you’re stepping into.

The IDEAL Active Patient Number | Finding a Dental Practice to Buy

Q: What is an ideal active patient count for dental practices?

A: There is not a definitive number! However, conventional wisdom says you should see an active patient count of ~900 patients for every $500,000 in collections.

That being said, active patient count is not as important as people think it is. At least, not on its own. Let’s dig into the context.

3 Vital Numbers You Need to Know | Finding a Dental Practice to Buy

Q: How do I analyze production when buying a dental practice?

A: When reviewing office production, look into three categories: ratio of collections to production, hygiene production, and procedure production.

This breakdown, though seemingly simple, speaks a lot to your future in the practice and how well it aligns with your skillset.

Identifying Habits of Successful Dental Practices | Negotiating a Dental Practice Purchase

A two-fer! In this blog post, I give some advice to dentists who will become business owners after buying a practice. What are the habits you can cultivate to help your business stay on track?

And in the video (click through to watch), I tackle a related topic. If you’re looking at a dental practice to buy, there are plenty of numbers and hard data to look at to assess the health of the practice. But outside of the quantitative data, what about the qualitative aspects? What should you be looking at to judge whether a practice is the right one for you to buy? I’ve got three business habits that a practice should exhibit to let you know it’s worth your consideration.

Should Dentists Buy the Building with the Practice? | Negotiating a Dental Practice Purchase

You’re usually not benefitting as much financially by purchasing the facility as you think you are. Most lease versus buy analysis come out pretty close. That being said, you are buying control over your space AND you’re buying a forced savings plan in real estate investment. Read on for more details.

Facility Costs for Dental Practices – How Much SHOULD You Pay? | Evaluating a Dental Practice to Buy

Facility costs should account for 5-10% of practice collections, whether you’re renting the facility or purchasing it. This expense is very geographically specific so there is no exact benchmark price you should pay for a facility. But 5-10% is a good range to start with.